Townsquare Media Inc (NYSE:TSQ) Holdings Reduced by O Shaughnessy Asset Management LLC
O Shaughnessy Asset Management LLC decreased its position in shares of Townsquare Media Inc (NYSE:TSQ) by 22.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,124 shares of the company’s stock after selling 2,997 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Townsquare Media were worth $58,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ClariVest Asset Management LLC purchased a new position in Townsquare Media during the fourth quarter valued at approximately $86,000. LSV Asset Management boosted its stake in shares of Townsquare Media by 202.7% in the 4th quarter. LSV Asset Management now owns 240,372 shares of the company’s stock valued at $980,000 after purchasing an additional 160,972 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Townsquare Media by 15.0% in the 4th quarter. Acadian Asset Management LLC now owns 265,668 shares of the company’s stock valued at $1,085,000 after purchasing an additional 34,695 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Townsquare Media by 3.7% in the 4th quarter. BlackRock Inc. now owns 63,528 shares of the company’s stock valued at $260,000 after purchasing an additional 2,259 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Townsquare Media by 79.8% in the 4th quarter. Northern Trust Corp now owns 38,589 shares of the company’s stock valued at $157,000 after purchasing an additional 17,132 shares in the last quarter. Institutional investors own 41.29% of the company’s stock.
NYSE:TSQ traded down $0.14 during midday trading on Wednesday, reaching $5.06. 17,597 shares of the stock traded hands, compared to its average volume of 29,946. Townsquare Media Inc has a 12 month low of $3.95 and a 12 month high of $9.79. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $95.86 million, a P/E ratio of 4.91, a P/E/G ratio of 0.46 and a beta of 1.93.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Friday, June 28th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $0.30 dividend on an annualized basis and a yield of 5.93%. Townsquare Media’s dividend payout ratio is currently 29.13%.
In related news, Director David Lebow sold 6,700 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $5.34, for a total transaction of $35,778.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 24.80% of the company’s stock.
TSQ has been the subject of a number of research reports. Royal Bank of Canada set a $8.00 price objective on shares of Townsquare Media and gave the company a “buy” rating in a research note on Tuesday, March 26th. Noble Financial reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Townsquare Media in a research note on Thursday, March 14th. Zacks Investment Research cut shares of Townsquare Media from a “hold” rating to a “sell” rating in a research note on Wednesday, May 15th. Finally, ValuEngine raised shares of Townsquare Media from a “strong sell” rating to a “sell” rating in a research note on Thursday, March 7th.
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About Townsquare Media
Townsquare Media, Inc operates as a radio, digital media, entertainment, and digital marketing solutions company in small and mid-sized markets. The company provides advertising and marketing solutions to advertisers and businesses through its radio stations, Websites, radio stations' online streams, and mobile applications.
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